The typical owner-occupied home in Homer is worth about $311,400, 3% above the Georgia median of $303,300 and 6% below the national median of $332,700. Owners pay a median $2,102 a year in property taxes, about 0.68% of their home's value, lower than the Georgia rate of 0.77%. The median household earns $89,083 a year, so the median home costs 3.5 times the median income (3.9 times for Georgia). 73% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Homer at a glance
| Homer | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $311,400 | $303,300 | $332,700 |
| Median property tax paid per year | $2,102 | $2,341 | $3,119 |
| Property tax as a share of value | 0.68% | 0.77% | 0.94% |
| Median household income | $89,083 | $77,353 | $80,734 |
| Homes lived in by their owners | 73% | 66% | 65% |
| Owner homes with a mortgage | 57% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,433 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 16.8% | 20.0% | 21.0% |
| Median rent | $1,008 | $1,393 | $1,413 |
| Rent as a share of renters' income | 23.2% | 31.3% | 30.6% |
| Median year homes were built | 2003 | 1992 | 1980 |
| Vacant homes | 7.1% | 10.3% | 10.1% |
| Population | 1,892 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Homer
At this week's average 30-year rate of 7.11%, buying the median Homer home of $311,400 with 20% down costs about $1,982 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,501, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $84,945 for the 20%-down payment. That payment is 27% of the median Homer household income of $89,083; at that income and 20% down, the 28% guideline points to a home of about $327,000.
The median rent here is $1,008 a month, so owning the median home costs about $974 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $62,280 |
|---|---|
| Loan amount | $249,120 |
| Principal and interest | $1,676 |
| Property taxes (0.68% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $130 |
| PMI | $0 |
| Total per month | $1,982 |
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| Down payment | $10,899 |
|---|---|
| Loan amount | $305,760 |
| Principal and interest | $2,057 |
| Property taxes (0.68% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $130 |
| FHA mortgage insurance | $138 |
| Total per month | $2,501 |
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Questions about home buying in Homer
What is the median home value in Homer?
About $311,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Homer?
Homeowners pay a median $2,102 a year, which is about 0.68% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Homer?
For the median home with 20% down at 7.11%, the payment is about $1,982 a month. Keeping that under 28% of gross income takes about $84,945 a year.
More about Homer
- Mortgage Refinance in Homer
- Debt Relief in Homer
- Home Equity Loans in Homer
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data